Dear client,
The Seychelles Revenue Commission (SRC) is conducting a survey to identify the Seychelles companies that are members of a Multinational Enterprise Group (MNE Group). A Seychelles company is a member of an MNE Group if the total consolidated group revenue is 750 Million Euros or more during the tax year immediately preceding the reporting tax year.
The survey must be completed and returned by all Seychelles companies that are members of an MNE Group, regardless of whether the group has earned the above-mentioned revenue.
Please note that (i) in respect of a Seychelles company that is a member of an MNE Group, the completed SRC survey (attached) must be returned to us; and (ii) if a Seychelles company is not a member of an MNE Group, it is not required to complete the survey, but we will need an email confirmation that the company or companies are not members of an MNE Group (with listed companies as applicable).
In respect to the information required for the survey, where a company is a member of an MNE Group, this only relates to each tax year from 2018 onwards.
Please also note the following regarding the survey questions:
- All Seychelles companies (including IBCs) are tax resident in Seychelles (unless they are deemed to only be tax resident outside Seychelles pursuant to the provisions of a Seychelles Double Taxation Avoidance Agreement with another country).
- Seychelles IBCs that only earn foreign (non-Seychelles) sourced income (i.e., non-assessable income), are not required to obtain a Seychelles Taxation Identification Number (TIN). However, within 14 days after an IBC commences business in Seychelles (earning Seychelles sourced income), the company must obtain a TIN.
The deadline to provide the survey is January 2022.
We look forward to hearing from you as soon as conveniently possible.